Moroccan tycoon Anas Sefrioui’s stake in Casablanca-based firm soars by $68 million

Yusuf Abdulfatai -

Adding to his year-to-date wealth gains, Moroccan businessman Anas Sefrioui has seen impressive financial gains in recent times as the market value of his stake in Casablanca-based property developer Douja Promotion Groupe Addoha (ADH) surged by $68 million.

Data gathered by Billionaires.Africa revealed that Sefrioui’s stake in ADH has increased by MAD691.62 million ($68.1 million) since Aug. 5 as investors on the local bourse continue to increase their stakes in the Casablanca-based group.

ADH is the largest property developer in Morocco, with real estate programs and investments throughout the North African country. Anas Sefrioui, one of Morocco’s wealthiest businessmen, owns a 64.1-percent stake in the Moroccan property developer.

The real estate group develops low-cost housing in Morocco. Its properties are located in towns and cities, including Casablanca, Ain Aouda, Al Jadida, Tetouan, Beni Mellal, Marrakech, Fes, Sale, Tanger, Tamesna, Meknes, Sale, Rabat, Kenitra, and Fgih Ben Saleh, among others.

Sefrioui, the founder of the Casablanca-based property developer, has seen a substantial boost in his wealth so far this year, further solidifying his position as one of the richest investors on the Casablanca bourse and also as one of the country’s richest businessmen.

Since Aug. 5, ADH’s share price has surged by 26.20 percent from MAD10.23 ($1.007) on Aug. 5 to MAD12.91 ($1.271) on Sept. 13, resulting in significant gains for its shareholders, including Sefrioui, who ranks as one of the wealthiest investors on the Casablanca bourse.

As a result of the double-digit surge in the company’s shares, the market value of Anas Sefrioui’s stake in ADH has increased by MAD 691.62 million ($68.08 million) in a span of 39 days from MAD2.64 billion ($270.03 million) on Aug. 5 to MAD3.33 billion ($327.96 million)  at the time of writing.

This recent upswing solidifies Sefrioui’s standing as one of the wealthiest investors on the Casablanca Stock Exchange. The exceptional performance of the company’s production program in its home country of Morocco, which experienced a gradual recovery, also positively impacted the persistent uptick in the shares of the property-based group.